KUALA LUMPUR (Dec 4): Opcom Holdings Bhd has proposed to change its corporate name to Hextar Capital Bhd effective immediately, its Bursa Malaysia filing showed on Monday.
Notably, Hextar’s Group CEO Datuk Eddie Ong Choo Meng is its largest shareholder with a 31.74% direct stake in the fibre optic company.
Broadband infrastructure provider Opcom also made a spotlight recently in September this year after it acquired a 18.03% stake or 70 million shares in ACE Market-listed Binasat Communications Bhd from the latter’s managing director Na Boon Aik for RM39.2 million as part of its venture into the satellite telecommunications business.
The acquisition came less than two months after Opcom announced a plan to buy a 49% stake in Transgrid Ventures Sdn Bhd for RM98 million, via a cash-plus-share deal, to diversify into the power transmission and distribution business.
Shares in Opcom ended half a sen or 0.8% lower to 60.5 sen, giving it a market capitalisation of RM232.33 million.
Year to date, the stock has fallen by 18.24%.